Note 12 - Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Derivative Instruments [Table Text Block]

Derivatives designated as hedging instruments:
								March 31, 2020
Forward Start	Termination	Derivative	Notional		Rate		Rate	Balance Sheet	Estimated Fair Value at:
Inception Date	Date	Type	Amount		Paid		Hedged	Classfication	March 31, 2020			December 31, 2019

2/28/2018	2/28/2025	Interest rate swap - FHLB Advances	$	50,000,000	2.12	%	3 month LIBOR Floating	Other liabilites	$	(3,960,173	)	$	(1,067,935	)

5/23/2019	2/23/2026	Interest rate swap - Subordinated Debentures	$	10,310,000	4.09	%	3 month LIBOR Floating +145 bps	Other liabilites	$	(1,270,794	)	$	(560,388	)

Derivative Instruments, Gain (Loss) [Table Text Block]

Derivative	Income Statement	Three months ended March 31,
Type	Classfication	2020	2019

Interest rate swap - FHLB Advances	Interest expense	$39,841	$(69,888)

Interest rate swap - Subordinated Debentures	Interest expense	$21,441	-

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details